What to Know About Scan Data Loyalty Programs
A scan data loyalty program can boost sales at your business and retain customers for years.
Loyalty programs reward your clients for sticking to your business. If you obtain a point-of-sale terminal, you can easily set up a loyalty program in a single day.
Read below to find out 5 benefits of creating a scan data loyalty program and even how to get a free digital payment terminal for your business!
What is a Scan Data Loyalty Program?
A scan data loyalty program rewards your clients for purchases at your store.
It works with a point-of-sale terminal (POS system, a digital cash register integrated with a payment system), which gives discounts/store credit to certain products as they are scanned by your vendor.
That means you can register certain products at your store with a discount, or even integrate the POS system with a gift card to award customers with store credit.
Scan data loyalty programs are easy to set up: all you need to do is determine the amount of store credit given to clients per amount spent in your store.
Or, you can select products that will give discounts to clients. For example, if you want to encourage clients to buy 3 drinks instead of just 1, offer a good discount that will make the triple purchase worth it.
Giving out store credit and discounts can seem like “lost money”, but we can guarantee that it pays off when you gain more loyal clients at your store!
What are the benefits of creating a scan data loyalty program?
There are many benefits when you reward customers. After all, a rewarded customer is probably going to like your store more than competitors’.
And that brings many benefits to your business including bigger profits since loyalty program customers usually spend 18% more than regular customers.
#1 Customer retention
It’s easier to retain customers than to gain new ones. Gaining new customers involves a lot of costs: advertising and marketing being the biggest.
So, it’s better to retain customers and make them loyal with a solid rewards/discount program — if you offer good value for your clients, they’ll stay.
Let’s say you own a convenience store. If you award store credit for purchases of drinks and snacks, you’ll probably retain those customers: after all, they’ll be able to use their store credit later on to claim some free goodies.
And while it might seem like you lose money with goodies bought via store credit, the retention of that customer pays off.
Usually, customers will make an effort to make the most of any loyalty programs they join and will prefer to shop at your business whenever possible.
#2 Customer referrals
Word of mouth is the best free marketing out there.
And companies that offer good discounts and rewards are referred more than regular stores to friends and family.
So, if you want to increase your customer base without additional spending on advertising, you can do so with a scan data loyalty program.
People will tell others of the discounts you offer or the store credit for purchases. And that means more clients lining up to your business!
To make this strategy more effective, your vendors should always mention the benefits of the loyalty programs to your customers and make sure they understand how much money they can save.
#3 Customer reviews
Loyal customers are the ones who make good reviews.
Regular customers usually don’t even bother making the effort of posting a review online.
And unsatisfied customers will make bad reviews just to tarnish your reputation.
So, your main goal should be to get as many good reviews as possible. And a scan data loyalty program is the best way to get customers on board and happy to write a positive review on your business.
One tip is for you to offer a freebie in return for a customer review. But don’t offer this freebie to any customer, only to those who have shopped at your business for a while.
Many loyal clients will be happy to write up a review in return for a free drink or snack.
#4 Increase average sales per customer
Loyalty programs increase the purchases made by customers thanks to the incentive from discounts or store credit.
In other words, customers will add items to their shopping cart if it means a reward on their next purchase.
If buying 3 drinks gets a reward, chances are regular customers who would just get 2 drinks will now add a third to their basket.
And that means you make extra money from the same client base.
#5 Sell items that are piling up on shelves
If some items are piling up in your store and aren’t having any luck with the customers, offer your clients a big discount or plenty of store credit for them.
Chances are some clients will look at the product as a bargain and then you’ve rid yourself of some deadweight stock.
This strategy not only helps you empty your shelves but also builds up loyalty with customers.
They’ll perceive value on the purchase and come back more frequently to see if you put a big discount on a product.
Install a POS system and start a sales data loyalty program now!
Install a digital POS station at your store and get your sales data loyalty program running in no time!
A POS terminal usually accepts cash, credit/debit cards, gift cards, and contactless payments (Apple Pay, Google Pay, and Samsung Pay).
This terminal by Clover can also be tracked by your smartphone, so you can keep an eye on sales while you’re away and a vendor is at the till.
You can even change pricing or store credit rewards from the comfort of your home!
With a high-end touch screen, you can make payments easier for your clients and your company now with a digital terminal!
Clover also works as an employee management system, since you can use it for your staff to clock-in their working hours.